GOL Linhas Aéreas Inteligentes (GOL), Brazil's largest domestic airline, has priced a US$300 million reopening of its 8.00% senior secured notes due 2026, as a further issuance of and to be consolidated and form a single fungible series with the Issuer's US$200 million 8.00% senior secured notes due 2026 issued on December 23, 2020. The issue price of the additional notes is 100%, representing an 8% yield to maturity. Moody's assigned the notes a rating of B2.
Purchasers of the additional notes will be required to pay accrued interest from, and including, December 23, 2020 up to, but excluding, the date the additional notes are delivered, which is expected on May 11, 2021.
The notes will mature on June 30, 2026, be callable by GOL on and after December 24, 2022 and be secured by fiduciary assignments of substantially all of GOL’s intellectual property, including patents, trademarks, brand names and domain names, and aircraft spare parts located in Brazil.
GOL intends to use the proceeds from the offering of the additional notes for general corporate purposes, including liability management and opportunistic aircraft acquisitions.